Curaleaf Acquiring Colorado Grower Los Suenos for $67 Million
So far, 2021 has been a year of consolidation in the marijuana industry, and on Monday a new acquisition was added to that list. U.S.-based multistate operator Curaleaf (OTC: CURLF) announced it has signed an agreement to acquire Los Suenos Farms, which it says is the largest outdoor grow operation in Colorado. Curaleaf will pay $67 million in a mix of cash and stock for its new asset.
A total of 61% of the purchase price is to be paid in Curaleaf stock; 29% will be transacted in cash at the closing of the deal, and 10% will be in assumed debt maturing in five years. If certain 2022 operating cash flow targets are met, Los Suenos will be eligible for an additional $8 million in Curaleaf stock.
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Source Fool.com
